South Korea Aims for $400bn of Nuclear Orders by 2030

14 January 2010 (Last Updated January 14th, 2010 18:30)

South Korea is aiming to secure nuclear power plant contracts worth $400bn by 2030. The nation hopes to win orders to build 80 nuclear plants and control 20% of the global market share, the Ministry of Knowledge Economy told Bloomberg. World Nuclear Association director of str

South Korea is aiming to secure nuclear power plant contracts worth $400bn by 2030.

The nation hopes to win orders to build 80 nuclear plants and control 20% of the global market share, the Ministry of Knowledge Economy told Bloomberg.

World Nuclear Association director of strategy and research Steve Kidd said that the best opportunities for South Korea will come in new nuclear countries such as Indonesia, Vietnam, Malaysia, Thailand and Middle East countries.

Attractive pricing and the experience of building nuclear power plants at home will help Korea Electric secure more contracts, according to Kidd.

South Korea is looking to partner with global major players to enter markets including Turkey, Jordan, the US and China.

South Korea’s Vice Knowledge Economy Minister Kim Young Hak said it is considering jointly targeting the Gulf nations with the UAE.

A Korea Electric Power Corp-led consortium recently won a contract for a power plant in the UAE, beating Areva and General Electric.